Hogs were higher early on Tuesday, but the turnaround was faded and the board settled $0.72 to $1.40 weaker. The October contract is now $8.55 below the high from earlier this month. USDA’s National Average Base Hog price for Monday afternoon was 98 cents lower to $95.17. The CME Lean Hog Index was 49 cents lower to $102.57.
Pork cutout futures also fell on the day, closing with board losses of $0.50 to $1.22 across the front months. The National Pork Carcass Cutout Value for Tuesday afternoon dropped 45 cents to $108.63. USDA estimated Tuesday’s FI hog slaughter at 476k head, for a weekly total of 937,000 head. That compares to 882k last week and 923k during the same week last year.
Oct 23 Hogs closed at $78.200, down $0.950,
Dec 23 Hogs closed at $71.250, down $1.400
Oct 23 Pork Cutout closed at $90.175, down $0.500,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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